Word: bartering
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...from U Nu's ruling Socialists. "Interference of the most brazen kind," a top Burmese neutralist called it. The Burmese have also had their business disenchantments with their cynical Communist trading partners. Despite fine promises of the latest machinery and steel, all the Russians ever sent them in barter for their rice was cement-so much cement that all Rangoon could not hold it. and vast quantities of it were ruined on the docks by monsoon rains (TIME, May 21). Most insulting of all, the Russians and Chinese began selling off their Burmese rice in Burma...
...Dulles indicated to everyone around the board, neutrals, allies and Communists alike, that the U.S. remains unawed by bold Communist boasts of matching the West in economic competition-in particular in the financing and building of the high dam on the Nile. And if neutrals want to dart and barter between the two, this will be a kind of "fearful risk" that they will have to worry about. They can no longer hope to seize the best of both worlds...
...Aided by Britain ($14 million) and the World Bank ($200 million), the U.S. was willing to supply the major part of the capital to finish the mighty three-mile dam. But the offer was left dangling. Nasser, who had mortgaged $200 million worth of cotton not yet planted as barter for Czechoslovakian weapons, occupied himself by recognizing Red China and by planning a trip to Moscow. And when Soviet Minister Dmitri Shepilov visited Cairo last month, Nasser's spokesman whispered that Russia had renewed its offer to finance the dam with a 20-year loan...
...bale by bale, the U.S. has succeeded in cutting down its embarrassing surplus of farm products by $2.9 billion since 1954 (still leaving more than $8 billion), the White House reported last week to Congress. Of that amount, $1.2 billion in surplus food, tobacco and cotton was either sold, bartered (for precious minerals and other materials), or given outright to the needy during the first six months of 1956. Overall, the U.S. lost money in the disposal, from 1) a $1.3 billion deficit on the actual sales and donations, 2) the exchange of surpluses for foreign currency, most of which...
...three years the Socialist government of neutral Burma has refused to take U.S. aid. It was willing to try barter deals with Iron Curtain nations, only to find that Burma invariably wound up on the losing end. Last week, disillusioned with barters and angered by Russian and Chinese support of Burmese Communists, Burma's new Premier U Ba Swe announced that he hoped to get a long-term low-interest loan of $20 million to $30 million from the U.S. as a business deal "without strings," thus compromising neither Burma's neutrality nor her self-respect...